PUBLISHER: The Business Research Company | PRODUCT CODE: 1672382
PUBLISHER: The Business Research Company | PRODUCT CODE: 1672382
Golf Cart Global Market Report 2025
Golf carts are electric or gas-powered vehicles designed to transport golfers and their equipment around the golf course while playing, providing a more convenient alternative to walking.
The main product types of golf carts include push-pull golf carts, gasoline golf carts, electric golf carts, and solar-powered golf carts. Push-pull golf carts are used to manually or power-assistedly move golf clubs around the course. They can be classified based on ownership as rented or fully owned. Golf carts find applications in golf courses, personal use, and commercial use.
The golf cart market research report is one of a series of new reports from The Business Research Company that provides golf cart optical components market statistics, including golf cart optical components industry global market size, regional shares, competitors with a golf cart optical components market share, detailed golf cart optical components market segments, market trends, and opportunities, and any further data you may need to thrive in the golf cart optical components industry. This golf cart optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The golf cart market size has grown strongly in recent years. It will grow from $1.72 billion in 2024 to $1.81 billion in 2025 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to strong economic growth in emerging markets, the rise in popularity of golf courses, the increase in industrialization, and the rise in sustainable energy solutions.
The golf cart market size is expected to see strong growth in the next few years. It will grow to $2.3 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to rapid urbanization, rising government support, the increasing aging population, and growing international and national tourism industries. Major trends in the forecast period include strategic partnerships and collaborations among market players, increased focus on electric golf carts, and focus on the development of customizable golf carts.
A rise in the use of golf carts in tourism is expected to drive the growth of the golf cart market in the future. Tourism, which involves travel for commercial purposes, often sees golf carts employed by visitors for transportation to various attractions, such as hotels, theme parks, zoos, and museums, due to their comfort, affordability, and eco-friendliness. Consequently, the increasing utilization of golf carts in tourism will boost demand in the golf cart market. For instance, in November 2023, the Office of National Statistics, a UK-based national statistical institute, reported that overseas visits to the UK rose from 2.8 million in May 2022 to 3 million in June 2022, with tourists spending a total of $3.42 billion (£2.7 billion) in the UK. Thus, the growing use of golf carts in tourism is driving the expansion of the golf cart market.
Rapid urbanization is anticipated to drive the growth of the golf cart market. In urban areas, golf carts are increasingly utilized for local transportation within gated communities, residential neighborhoods, and retirement communities. This trend towards urbanization fosters the development of environments where golf carts serve as a practical and eco-friendly mode of transport. For instance, in April 2023, the World Bank reported that 56% of the global population, approximately 4.4 billion people, live in urban areas. This trend is expected to persist, with the urban population projected to more than double by 2050. Consequently, the rapid growth of urbanization is likely to generate significant demand for the golf cart market.
Technological advancements are a significant trend gaining traction in the golf cart market. Leading companies in this sector are innovating to maintain their competitive edge. For example, in November 2022, Neuron Energy Pvt Ltd., an India-based provider of Electric Vehicle solutions, launched the Adler line of electric golf carts. This new initiative aims to address the demand for personal transportation, freight, leisure, and medical assistance. The golf carts will be powered by Neuron's lithium-ion batteries, equipped with a GPRS tracker and remote assistance. The GPRS vehicle tracking system operates alongside GPS, recording location data and transmitting it to the Internet.
Golf cart manufacturers are increasingly prioritizing the production of battery-powered electric golf carts to comply with emission standards and enhance their offerings to align with current golfing norms. Electric golf carts not only reduce emissions but also align with the environmental goals of golf clubs. For instance, in May 2023, Mansory, a Germany-based automaker that produces golf carts, introduced an electric golf cart that is authorized for use on public roads in both the United States and Europe. The cart is powered by a 10.24-kilowatt-hour lithium-ion battery pack, providing a range of over 50 miles (80 km) on a single charge, and its electric motor generates 10.7 horsepower (8 kilowatts).
In June 2022, Club Car, a US-based manufacturer of small-wheel, zero-emissions electric vehicles, acquired Garia A/S for an undisclosed amount. Through this acquisition, the company aims to enhance its go-to-market strategies and seize new opportunities in areas such as last-mile delivery and street-legal utilities. Garia A/S is a Denmark-based manufacturer of electric low-speed street-legal vehicles and golf carts.
Major companies operating in the golf cart market include Textron Inc, Yamaha Motor Co., Ltd, Club Car LLC, Marshell Green Power Co. Ltd, Guangdong Lvtong New Energy Electric Vehicle Technology Co Ltd, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd, HDK Electric Vehicle, JH Global Services Inc, Dongguan Excar Electric Vehicle Co., Ltd, STAR EV Corporation, Xebio Group, Kandi Technologies Corporation, Borcart, HillBilly Australia, Garia Luxury Golf Car, Stewart Golf Limited, Melex, Icon Golf Cart, CCE Golf Cars, Mission Golf Cars, Inland Hobbs Material Handling, Ness Turf Equipment, King of Carts, LLC, Nivel Parts, Motor Appliance Corp, Golf Cart Parts Company, Sol Patch International, Inc, Bugle Forklift Sales & Rentals LTD, Royal Impex, Neuron Energy, First International Specialized Vehicles Trading LLC, H I C Battery FZCO, Eazytech, Royal Elite Valet Parking Company, Smith Power Equipment, Golf Car Worx, Evo Motors
North America was the largest region in the golf cart market in 2024. The regions covered in the golf cart market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the golf cart market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The golf cart market consists of sales of utility golf carts, hybrid golf carts and neighborhood golf carts. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
1. Executive Summary
2. Golf Cart Market Characteristics
3. Golf Cart Market Trends And Strategies
4. Golf Cart Market - Macro Economic Scenario including the impact of Interest Rates, Inflation, Geopolitics and Covid And Recovery on the Market
5. Global Golf Cart Growth Analysis And Strategic Analysis Framework
- 5.1. Global Golf Cart PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
- 5.2. Analysis Of End Use Industries
- 5.3. Global Golf Cart Market Growth Rate Analysis
- 5.4. Global Golf Cart Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
- 5.5. Global Golf Cart Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
- 5.6. Global Golf Cart Total Addressable Market (TAM)
6. Golf Cart Market Segmentation
7. Golf Cart Market Regional And Country Analysis
8. Asia-Pacific Golf Cart Market
9. China Golf Cart Market
10. India Golf Cart Market
11. Japan Golf Cart Market
12. Australia Golf Cart Market
13. Indonesia Golf Cart Market
14. South Korea Golf Cart Market
15. Western Europe Golf Cart Market
16. UK Golf Cart Market
17. Germany Golf Cart Market
18. France Golf Cart Market
19. Italy Golf Cart Market
20. Spain Golf Cart Market
21. Eastern Europe Golf Cart Market
22. Russia Golf Cart Market
23. North America Golf Cart Market
24. USA Golf Cart Market
25. Canada Golf Cart Market
26. South America Golf Cart Market
27. Brazil Golf Cart Market
28. Middle East Golf Cart Market
29. Africa Golf Cart Market
30. Golf Cart Market Competitive Landscape And Company Profiles
31. Golf Cart Market Other Major And Innovative Companies
32. Global Golf Cart Market Competitive Benchmarking And Dashboard
33. Key Mergers And Acquisitions In The Golf Cart Market
34. Recent Developments In The Golf Cart Market
35. Golf Cart Market High Potential Countries, Segments and Strategies
36. Appendix
